Week in Review - March 15, 2023
The sudden collapse of Silicon Valley Bank has been the news of the week. While many InsurTechs?parked funds?at SVB, known as the go-to bank for start-ups and their venture capital backers, it appears their exposure is minimal.
Florida has gotten a lot of press around its beleaguered property insurance market, particularly in the wake of last year’s Hurricane Ian. But another hurricane is hitting the state: A hurricane of?auto glass lawsuits.
As the first quarter of 2023 draws to a close, the final numbers for the fourth quarter and full year 2022 continue to trickle in.?P&C Specialist?has documented how underwriting results have not been good. Most recently, we looked at?USAA?and?Liberty Mutual, both of which suffered billion-dollar-plus losses. We also?ranked carriers?by most severe underwriting losses in auto and home for a snapshot view of the industry.
But the news is not all bad. Three personal lines carriers?made bank?last year.
Table of the week:
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